DALLAS -- The Crespi Estate, owned by Tom and Cinda Hicks, is being put up for sale by Douglas Newby & Associates.
The estate, which is 25 acres and includes a main structure, a guest house, and a pool house, was purchased by the Hicks family 16 years ago. The Dallas Central Appraisal District has the three structures listed at a total of 42,496 square feet.
The listing company said the price of the home, located on Walnut Hill Lane and Hollow Way Road, "reflects the $2,000,000 per acre value of the land and the $2,000 per square foot cost of improvements." Dallas real estate blogger Candy Evans estimates the total price of the estate at $135,000,000.
"After raising six children, the Hicks recently became empty nesters and have decided to place their Dallas home on the market," Douglas Newby wrote in a letter sent out by a public relations firm. "They are looking forward to spending more time at their home on the beach at La Jolla and creating another refined home in Dallas."
The letter claims the estate home is located on the largest estate property in the country that is located only eight minutes from a major downtown.